OVO energy pays interest on up to £1000

Coatsie

If you're with energy supplier OVO they'll pay interest on up to a grand
3% the first year, 4% the second, and 5% the third year.
Handy if you've maxed out the high interest paying current bank accounts.


I'm new here so can't post a link to the OVO site, just search for OVO interest rewards.

eskbanker

It's only for balances that happen to be in credit rather than those deliberately made that way, as per https://www.ovoenergy.com/terms:

13.6 You must not make payments into your account just to receive the OVO Interest Reward. If we think you're doing this, we'll refund the extra amounts to you and we may withhold payment of the OVO Interest Reward on those amounts.

so this isn't really a viable means of saving as an alternative to proper interest-paying accounts - it's essentially a prepayment discount....

Coatsie

Thanks for pointing that out, I'd missed that.